Trustee Sues Energy Future on $2.2B of Loans
Bloomberg reported that Energy Future Holdings was sued by a trustee demanding a payment for holders of $2.2 billion in notes.
Bloomberg said Energy Future is trying to exchange costly loans for lower-interest borrowings under an agreement struck with some creditors to reduce the debt load from its record $48 billion leveraged buyout in 2007.
Bloomberg notes that creditors who didn’t sign up for the deal are fighting over special payments going to those that did, as well as redemption fees they say they are due.
To read the entire Bloomberg story, click here.
Previously on abfjournal: Court Approves Energy Future $5.4B Bankruptcy Loan, June 9, 2014